Foreclosure Fraud Featured this Sunday on 60 Minutes

Spread the word everyone…

This is the one that we hope wakes up the American people. A group of us foreclosure fraud fighters, with Lynn Szymoniak leading the way, have been working with 60 minutes over the past few months to help them get this story together.

This explosive piece focuses on what we all have to come to know in foreclosure world. It will cover the robo-signing scandal from LPS / DOCX and much much more.

The were even able to track down a DOCX robo-signer for the story.

So stay tuned and watch the show this Sunday at 7pm on CBS

From the 60 minute website:

This Sunday on “60 Minutes”

The Next Housing Shock
As more and more Americans face mortgage foreclosure, banks’ crucial ownership documents for the properties are often unclear and are sometimes even bogus – a condition that’s causing lawsuits and hampering an already weak housing market. Scott Pelley reports. | Watch Teaser Video Here

Also from the report…

FDIC Chairman: Foreclosure clean-up fund needed

Sheila Bair says fund is needed to stem tide of lawsuits caused by bad mortgage paperwork in foreclosure cases

CBS News) Banks so poorly handled documentation on millions of mortgages that many today cannot prove that they own the homes they want to foreclose on. The resulting rash of lawsuits from people seeking to save their homes has one of the government’s top banking regulators worried that the torrent of litigation will delay the real estate market’s recovery.

Federal Deposit Insurance Corporation Chair Sheila Bair tells Scott Pelley banks should be forced to contribute billions to a clean-up fund that will help stressed homeowners stay in their homes and stave off lawsuits – there are 30,000 already – that threaten the economic rebound. Pelley’s report on this latest chapter in the incredible mortgage meltdown story will be broadcast on “60 Minutes” Sunday, April 3 at 7 p.m. ET/PT.

More here…

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